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New rules proposed by the Financial Conduct Authority (FCA) could mean cheaper loans being recommended to mortgage hunters. As part of their Mortgages Market Study, the regulator has asked mortgage advisors to tell their clients why the cheapest available deal has not been recommended to them. In a statement it said: “Where a mortgage adviser …

Ten million people have now been auto-enrolled in a workplace pension since the scheme started in October 2012. The government initiative was introduced to encourage people to start saving for their retirement at an early age. Previously it had been up to the employee to decide whether or not to start a pension, but the …

A new bill, designed to set mortgage prisoners free, has been presented to the House Of Commons by Tory MP Charlie Elphicke. Presented as a 10 minute rule bill, it is seen as the first step to releasing more than 200,000 consumers who have been trapped for years in high rate mortgages because they are …

Increasing numbers of mortgage borrowers are electing to go for a 40 year mortgage term instead of the traditional 25 – but is it a good or bad idea? Latest figures show the cost of buying your own home is cheaper in the long run than renting and, of course, you have a very valuable …

More than half the mortgage products available in the UK can now be taken out for 40 years instead of the historic lifespan of 25 years. The financial website Moneyfacts says 51% of all mortgages are now offered over 40 years, up from just 37% five years ago. Affordable It blames higher house prices for …

In a move seen to protect vulnerable tenants from unethical landlords, the government has announced plans to ban ‘no fault’ evictions. Under the plans, private landlords will no longer be able to evict tenants at short notice without good reason. Terminate Using the current Section 21 system, a landlord can terminate a tenancy with as …

New research has revealed that first-time buyers need to save for 10 years before being able to buy their first home. If a single would-be homeowner can’t rely on help from the Bank Of Mum & Dad, research by Hamptons estate agents reveals it could take them a whole decade to save enough for a …

More than 10 million UK workers will have a bigger chunk of their wages diverted into their pension fund from their next pay packet. Up to now savers have been contributing 2.4% of their salary, topped up by 2% from their employer and 0.6% in tax relief for a monthly contribution of 5% of gross …

MPs investigating the state of the UK pensions industry branded it ‘a bit of a cowboy area’ after the pensions minister gave it a rating of 8 out of 10. Guy Opperman was rating the level of understanding and transparency as he gave evidence to the Works and Pensions Committee who are investigating pension costs …

The Treasury has announced the sale of another £4.9 billion of mortgages and unsecured loans from two of Britain’s ‘bad’ banks to the global investment bank Citi. But the move has been criticised as making ‘a mockery’ of attempts to help mortgage prisoners to switch from expensive standard variable rate (SVR) mortgage deals they are …